There is currently 20 identical firms in a perfectly, Business Economics

+44 141 628 6080
[email protected]

There is currently 20 identical firms in a perfectly

There is currently 20 identical firms in a perfectly competitive market. Each firm has a cost function of the form: SC(q) = 10q² +200q + 7000. The market demand is P = -4QD + 3000.

a) Find the short run equilibrium price, market quantity, and firm quantity.

b) Explain why this is not a long run competitive equilibrium.

Request for Solution File

Ask an Expert for Answer!!

Business Economics: There is currently 20 identical firms in a perfectly

Reference No:- TGS01098444

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

Investigate the cause of the recent werewolf attacks

create a temporary committee to investigate the cause of the recent werewolf attacks in major cities throughout the United States.

Describe marxist theory and psychology of addiction

Compare the Marxist Theory and Psychology of Addiction with the Realistic Theory and psychology of Addition.

Explain framers decisions in creating the constitution

Explain how the Articles of Confederation made the above scenario possible. Describe how this scenario influenced the framers' decisions in creating the Constit

Federal bureaucracy has to put up with a lot of red tape

Question: The Federal Bureaucracy has to put up with a lot of "red tape". What is "red tape" in regards to government?

What power of recognition when it comes to office president

Question: What is "power of recognition" when it comes to the office of the president? Question Select one

What right ordinance power give to the president

Question: What right does the Ordinance Power give to the president? Question Select one:

Analyze leadership of organization during particular event

Analyze leadership of an organization during a particular event or across a defined set of events. The assignment will assess your ability to identify

Request for Solution File

Ask an Expert for Answer!!

Business Economics: There is currently 20 identical firms in a perfectly

Reference No:- TGS01098444

Have a Question? (oR Write a Review)

Recent Questions Asked Business Economics

Q : In this assignment you are to discuss the budgeting

Q : Application on the legislative process and veto

Q : An office building should last 60 years but this owner will

Q : For each set of individual demand functions calculate the

Q : There is currently 20 identical firms in a perfectly

Q : For the original estimates compute each of the following

Q : Prepare an 8-10-page report in word this report should

Q : The opportunity cost of leisurenbspthe elasticity of labor

Q : Sometimes social influences and societal pressures can